Ether (ETH) and native tokens of applications built on Ethereum surged in the past 24 hours as traders bet on the possibility of an ether exchange-traded fund (ETF) following the expected approval of a bitcoin ETF in the U.S. Ether exchanged hands over $2,400 in early European hours Wednesday, up 5% in 24 hours. LDO, the governance token of the decentralized autonomous organization (DAO) behind liquid-staking system Lido, gained over 20% while the ARB token of Ethereum scaling solution Arbitrum rose almost 17%. Bitcoin fell 2.2%. BlackRock has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its iShares Ethereum Trust, a spot ether ETF.

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